2013-08-11 WSJ - Regulator Examines Bitcoin Practices

[aigeezer]

""We believe that— blah blah," wrote Mr. Lawsky in a draft of the memo reviewed by The Wall Street Journal."

Very cosy.

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[BCB]

The anarchists can argue all the want.

Anyone who received a subpoena should understand the severity. The NY DFS has unique power amongst the state regulators to prosecute criminally - and it has used it.  Lawsky demonstrated these powers last year against Standard Chartered and then recently against Deloitte.

Seek competent counsel if you have not already done so.

[BCB]

FROM: Benjamin M. Lawsky, Superintendent of Financial Services
DATE: August 12, 2013
RE: Notice of Inquiry on Virtual Currencies
______________________________________________________________________

http://dfs.ny.gov/about/press2013/memo1308121.pdf

[aigeezer]

"Because virtual currencies aren't backed by a central government like traditional ones are, regulators are worried they can be used for illegal activity"

Woot! The big-lie implication is, of course, that currencies backed by a central government cannot - straight face now - cannot be used for illegal activity.

It's a power grab, nothing else. Of course, it may work, and they will keep trying - it's what they do.

[UPENtXF]

On google finance front page in top stories!
https://www.google.com/finance

[BTCLuke]

and once again America trying to control the world.... im getting to the stage where im going to start encouraging people to attack America....

i now full blown hate America.. if you come to the UK or Europe and your American your probably better of lieing and saying you Canadian. less chance youll get beaten up.

im not raciest or sexist i just hate anything to do with America and anything to do with Americas "way of life" if America was a person it would be locked away in a small cell with restraints on.

You need to check yourself, mister. There is a HUGE difference in the american people and our evil overlords that are doing all the things you hate.

The last few years have woken up the vast majority of americans to knowing that they're not in control anymore... Things like PRISM, FISA courts and drone warfare in countries we're not even at war with are kinda hard to ignore. The problem is that the media still tells everyone that people with those feelings are in the minority... But we aren't. The last presidential election proved that when Ron Paul gathered larger crowds at his speeches than any other candidate, including obomba... yet the press just kept saying he had no chance and people believed that.

I'll grant you that the american 'way of life' is the major problem though... It allowed for our tyrants to rise and control so much. -But we're paying for it now and this country is going to crash and burn horribly because of it. -So don't be so eager to kick us while we're down... We've still got a long way further to fall.

if America was a person in my country and i had control it would have been shot several time over

Well that removes the possibility of your country being the UK.

[vm1990]

and once again America trying to control the world.... im getting to the stage where im going to start encouraging people to attack America....

i now full blown hate America.. if you come to the UK or Europe and your American your probably better of lieing and saying you Canadian. less chance youll get beaten up.

im not raciest or sexist i just hate anything to do with America and anything to do with Americas "way of life" if America was a person it would be locked away in a small cell with restraints on.

You need to check yourself, mister. There is a HUGE difference in the american people and our evil overlords that are doing all the things you hate.

The last few years have woken up the vast majority of americans to knowing that they're not in control anymore... Things like PRISM, FISA courts and drone warfare in countries we're not even at war with are kinda hard to ignore. The problem is that the media still tells everyone that people with those feelings are in the minority... But we aren't. The last presidential election proved that when Ron Paul gathered larger crowds at his speeches than any other candidate, including obomba... yet the press just kept saying he had no chance and people believed that.

I'll grant you that the american 'way of life' is the major problem though... It allowed for our tyrants to rise and control so much. -But we're paying for it now and this country is going to crash and burn horribly because of it. -So don't be so eager to kick us while we're down... We've still got a long way further to fall.

if America was a person in my country and i had control it would have been shot several time over

Well that removes the possibility of your country being the UK.

im going to kick. poke. and prod at America all the way.... you got your selves into a right mess and the least i can do is laugh at you all while you suffer "im not very sympathetic to anyone these days" the fault is while you crash and burn you wont do it dignified youll take down other country's with you to...

with a bit of luck theres still a chance at recovery. granted its a very small chance and your government like many other governments need to focus more at home than trying to control things they have no right to try and control

the major problems and a rather good saying is
"those who have the ability to control dont want the responsibility, and those that have the responsibility dont have the ability"
and i think iv just invented that XD
i now feel smart and superior and believe i have made my point 

[n8rwJeTt8TrrLKPa55eU]

[AtomSea]

 Lawsky is the supervisor of all Insurance companies in New York, all New York State-chartered depository institutions and the majority of United States-based branches and agencies of foreign banking institutions. He also regulates all of New York State’s mortgage brokers, mortgage bankers, check cashers, money transmitters, budget planners, and similar providers of financial services.

Lawsky led Governor Andrew Cuomo’s initiative to make the Department of Financial Services, which includes the former New York State Banking and Insurance Departments, into a modern unified financial regulator.

 Lawsky’s objectives for the new Department of Financial Services include three main goals—keeping New York on the cutting edge as the financial capital of the world, protecting consumers better than ever before, and serving as a model of efficient government.

Lawsky was Governor Andrew Cuomo's Chief of Staff. Previously, he served as the Deputy Counselor and Special Assistant to then-Attorney General Cuomo. Prior to that, Mr. Lawsky had spent over five years as an Assistant United States Attorney in the Southern District of New York, where he prosecuted white collar crime, organized crime, and terrorism cases.

Wow, this guy sounds like a real shining white knight ... I wonder where he was when AIG (insurance) was running it's goldman sachs multi-billion dollar pass through scam ... and MBIA (insurance) was blowing up the CDO market to tune of $50+ BILLION??

These SEC guys can't get off their porn sites to catch the real criminals ... but wait someone wants to compete with the federal reserve e-debt notes .... " ... we right on it massa ..."

+1

[justusranvier]

 Lawsky is the supervisor of all Insurance companies in New York, all New York State-chartered depository institutions and the majority of United States-based branches and agencies of foreign banking institutions. He also regulates all of New York State’s mortgage brokers, mortgage bankers, check cashers, money transmitters, budget planners, and similar providers of financial services.

Lawsky led Governor Andrew Cuomo’s initiative to make the Department of Financial Services, which includes the former New York State Banking and Insurance Departments, into a modern unified financial regulator.

 Lawsky’s objectives for the new Department of Financial Services include three main goals—keeping New York on the cutting edge as the financial capital of the world, protecting consumers better than ever before, and serving as a model of efficient government.

Lawsky was Governor Andrew Cuomo's Chief of Staff. Previously, he served as the Deputy Counselor and Special Assistant to then-Attorney General Cuomo. Prior to that, Mr. Lawsky had spent over five years as an Assistant United States Attorney in the Southern District of New York, where he prosecuted white collar crime, organized crime, and terrorism cases.

Wow, this guy sounds like a real shining white knight ... I wonder where he was when AIG (insurance) was running it's goldman sachs multi-billion dollar pass through scam ... and MBIA (insurance) was blowing up the CDO market to tune of $50+ BILLION??

These SEC guys can't get off their porn sites to catch the real criminals ... but wait someone wants to compete with the federal reserve e-debt notes .... " ... we right on it massa ..."

"keeping New York on the cutting edge as the financial capital of the world" means breaking the kneecaps of anyone who tries to compete with the Manhattan mafia.

[BTCLuke]

im going to kick. poke. and prod at America all the way.... you got your selves into a right mess and the least i can do is laugh at you all while you suffer "im not very sympathetic to anyone these days" the fault is while you crash and burn you wont do it dignified youll take down other country's with you to...

Do you honestly see that as doing any good? Even if everyone outiside of the US made it a point to pick on an american daily, would that really help anything? All you're doing is making the weaker-minded murikans think that non-murkians are belligerent and want to avoid you.

with a bit of luck theres still a chance at recovery.

AFTER a major crash that destroys the dollar completely, yes, I grant you that... But even at that point your tactic hurts more than it helps.